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| Image | Sale date | Auction house | Location | Sale name | Lot No. | Estimate | Price Sold | Condition | Title |
|---|---|---|---|---|---|---|---|---|---|
Sep 7, 2016 | Bonhams | Los Angeles | Coins And Medals | 125 | $****** - ****** | 1852 U.S. Assay Office $50, 900 THOUS. |
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K-14, R.5. One of the most impressive gold coins produced in America, these immense $50 gold "slugs" have the unusual octagonal shape, central eagle with ribbon and shield, with legends and date surrounding. On the reverse the complex engine turned engraving provides both a visual and confirms a technical achievement in die work. Moderate handling marks are present, a fact of life as these huge, heavy gold coins often circulated with others of their kind, their eight corners just begging for impacts. The present coin has these corners intact, save for one rim bump seen on the reverse, and retaining most of the original eye appeal as imparted by the dies.
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Gold was first discovered in 1848 at Sutter's Mill in Coloma California along the South Fork of the American River. Soon word leaked out, and one of the biggest mass human migrations in history began with this quest for sudden riches. Those who did find gold had to barter for the items they needed initially, soon private minters appeared and tried their craft at making coins. At last the Official United States Assay Office opened up, and coinage began to be more regulated and uniform. The largest coins issued by that office were these $50 pieces, they become symbols of the incredible wealth pouring from the mountains, streams and valleys of California. As time swept on, most of these golden relics were melted and converted into smaller gold coins once the San Francisco branch mint opened in 1854, but modest numbers survived like the present coin. Oh what stories she could tell of the wilds of that epic and historic period in our history. Comes with paper envelope inscribed "To Jonathan B. August 5, 1959, From Uncle Allen". (PCGS 10019).
Extremely Fine to About Uncirculated
